The Man Fighting Fisker - My Interview with Steve Berman of Hagens Berman

[@wtatun]

Thanks to the Fisker Owners Association and all their work helping to protect the rights of Fisker Owners!

[@Aslash304]

Thanks for your comment

[@Ryctor07]

You're doing a great job at keeping real, genuinely useful info flowing to Fisker owners. Glad the community has you in their corner!

[@Aslash304]

Much appreciated!

[@joceppi85]

Great information and questions…. gives a glimmer of hope possibly for those who did not use Chase. Thank you!!!!

[@Aslash304]

I hope there’s some recourse. Thanks for watching and best of luck

[@Coolcatgrooves]

Thank you, and thank you for doing this! Very professional and straightforward and it really helps to bring down my anxiety with this matter, now there seems to be an option with a little hope.

[@Aslash304]

I am hopeful as well

[@MarcOliverMiami]

Thank you Adam for staying on it and getting this interview done!

[@Aslash304]

Thanks for watching!

[@gregoryalee2457]

As an attorney, this is what you guys needed - an attorney to take up the mantle. It sounds reasonable to me from what I could see in the video. Nice job Adam.

[@Aslash304]

Thanks so much for this feedback, and for watching!

[@bertrandlehelley-fcgrealty4054]

Man, I want to thank you for all the hard work you put in this. This last video is a true eyes opener and provides hope that justice can be served.

[@Aslash304]

Thanks for watching!

[@MeganFOA-i6x]

Thanks to the FOA for setting this up for you to get this info out to everyone!

[@Aslash304]

Indeed. Thanks to Paul

[@Derpy1969]

“She exercised the family controls.” His wife put her foot down and stomped that Rivian purchase dead in its tracks. In other words, she threatened to leave him. And he was smart to choose his wife over Rivian.

[@Aslash304]

lol. A smart choice indeed

[@RicardoK-ng5ch]

Epic job on sharing all the details Adam. To me Its a real time documentary and drama, of modern automotive history unfolding. I'm sure that why so many are interested in the Fisker story, twists, turns, the good and bad. very interesting. Answers a lot of questions as to what happens when a car brand goes under also.

[@Aslash304]

Thanks for the feedback, and thanks for watching

[@DaveDarin]

Seems to be very VERY unfortunate to those that paid cash. Those folks seems to be the only ones left fully on their own because the only settlement they could possibly have would be with Fisker and Fisker is protected via bankruptcy laws. For those owners that is unfortunate. Seems like any start up company the best options would be to lease or finance. And when you do lease or finance I wonder if the money down, the cash amount, should be a little as possible as the holder rule might only allow you to recover the financed part. So, might not be good to put $20k down on that $60k car as you might only be able to recover the $40k.

[@Aslash304]

How does the money down matter in the event of a buyback?

[@DaveDarin]

@@Aslash304 Not saying that it absolutely would. However, the bank, Chase or whoever, might have, in the case of those who paid $70k, they might have put $20k down BUT the bank only loaned then $50k. So why would the bank be liable for the entire $70k. It's actually similar to those who paid fully in cash with no bank loan. They are fully out all their money. So, why would the cash down part of the loan be refunded? Not sure how it would work in a buy back.

[@shawnrech7865]

Why is the bank liable at all? Finding a party involved with this that has bags of money and pinning the blame on them is an abuse of legal process. We all knew this company could fall apart. We all knew this man's track record. I hate big banks - but they had nothing to do with the failure of Fisker. My loss is my responsibility. I made the choice.

[@Aslash304]

@@shawnrech7865it’s a consumer protection that’s been around for decades. It’s in every loan. They held accounts for Fisker, and advertised a low interest rate for the vehicles with a Fisker branded loan product while a billion shares were being issued to Fisker’s noteholder, tanking the stock.

[@stevemilham7770]

What a great video to have put together and the awareness it will give owners that financed this vehicle will be immense. If you ever hear of a recourse route for those of us that financed the vehicle outright and consequently have no redress with a finance house, I’d love to hear from you…

[@Aslash304]

I’ll keep my ears open

[@mikeadams9302]

Ive already sent my info in to them and look forward to getting a good result.

[@Aslash304]

Best wishes! Thanks for sharing your experience

[@EV-365]

Good video Adam. Rivian catching strays by Berman at the end of the video! Completely different situation.

[@Aslash304]

I think Rivian is in good shape at this point.

[@K9Trixx]

Now this was productive. More Bald Eagle and less circling vulture.

[@Aslash304]

Observe and report.

[@davidbrownstein1294]

So for people like me who paid cash for their Fisker, are we S.O.L.?

[@Aslash304]

This remedy is not available, unfortunately

[@jjScorpio]

Awesome and thanks as always Adam. Much appreciated. Do you know if there are any Canadian equivalent law offices to Hagens Berman that is willing to take this case for Canadians?

[@Aslash304]

I would think you could reach out to them and get a recommendation. Worth a shot at least.

[@EdLeBard]

Question - what happens to the cash down payment portion? Say someone puts down $20K cash for a $55K Ocean Ultra, locks down the rest in Chase car loan ($35K)...... Would there be two possible results? 1) Forgiveness of the remaining car loan only? or 2) Full refund of the total purchase of the vehicle which would be $55K plus taxes/fees of around $7K, so about $62K full refund?

[@Aslash304]

The buyback would make you whole, I would think, no matter what you put down

[@typxxilps]

so looking back over the past 6 months it looks a bit like a miracle how much further you and the fisker owners have gotten compared to the previous or first Fisker (Karma) "exit".

[@krafter324]

I financed through them, and because of the mess dumped it. Wonder if I have any recourse to get some money back ? Lost double digit in thousands

[@Aslash304]

Yes. Reach out to them

[@krafter324]

@@Aslash304 just filled out the form and explained. Thanks for sharing this

[@Aslash304]

@@krafter324my pleasure

[@foxtrotwolf6081]

Good luck everyone! At least everyone who financed. I guess cash buyers are still out of luck.

[@Aslash304]

Indeed. Makes me never want to buy a car cash. The holder rule is effective for two years. Might be worth the interest to always have that protection.

[@bmcjunkie]

Hey Adam, do we shareholders need to do anything with this? Please find below links to the following documents in the bankruptcy proceedings of Fisker Inc., et al., Case No. 24-11390 (United States Bankruptcy Court, District of Delaware): Not really sure that it matters, thanks!

[@Aslash304]

If you sent a link, they won’t let you post them. Was there a specific question? Happy to help

[@bmcjunkie]

@@Aslash304 As a small shareholder (200 shares) I was just wondering if it's even worth my time to file a claim? I had high hopes like everyone else for Fisker's success, but after I canceled the order on my Sport, I should have listened to my head and not my heart. But such is life!

[@tumentumengoosh5178]

Thank you Adam this is very helpful

[@Aslash304]

Thanks for watching

[@mzmz9355]

Good thing you have in the US, I'm wondering if anything exists in Europe to protect&help European customers.

[@Aslash304]

I would assume it changes from country to country

[@paulpresburger5018]

Satander has been buying folks cars back

[@tonyn3227]

I've received a bar date notice, to file claim with fisker, I only gave them $250 order fee , on my chase cc. Back in 2022, do you know anything about this

[@Aslash304]

In order to become an unsecured creditor in the Fisker Bankruptcy, you can file a proof of claim. If everyone is made whole to the full extent of Fisker’s remaining money, you might get a portion back.

[@gskaff]

Does anyone know if Chase can retaliate against its customers who use their credit cards if we join this lawsuit. Is there a precedence to something like that? thanks

[@Aslash304]

I’m pretty sure that’s illegal

[@DaveDarin]

Here is a curiosity. Steve said, per other banks, that they have to have put the holder rule within that banks, any banks, agreement. How about if you financed through a credit union. Credit unions run differently, for example, money is not protected via FDIC but via NCUA. So, would financing via a credit union be able to be part of this holder arbitration opportunity? And a second question. If you bought second hand, used from a dealer but financed. That owner might not be able to make a claim of what the car originally cost vs. what was paid as used that owner might have paid $28k BUT if that owner wants out and be part of a potential buy back, if the bank will go that buy back route, should that owner seek guidance with hope the bank, Chase, initiates a buy back for owners.

[@Aslash304]

Credit union loans also contain the Holder rule

[@hlee2546]

Great info!! This mainly for people who did finance with Chase , so what we can do with people who bought from their own money? Any route? Thank Adam

[@Aslash304]

Not at the moment, but I’m always looking around

[@wardpaine8194]

Thanks

[@Aslash304]

Thanks for watching

[@shckltnebay]

How is a bank responsible for the horrid actions of Fisker?

[@foxtrotwolf6081]

If it wasn't for the bank, the potential Fisker owner wouldn't be stuck with the car since they couldn't afford the car in the first place without financing.

[@wizzyno1566]

​@@foxtrotwolf6081😂

[@Aslash304]

The how: banks are required to put the holder rule in every loan. Here’s the what: www.ftc.gov/legal-library/browse/rules/holder-due-course-rule

[@patrickmannion4952]

Chase has known for well over eight months that Fisker was effectively insolvent, but they continued to write loans for new vehicle sales. They’re not only liable, they’re effectively complicit.

[@shckltnebay]

@@foxtrotwolf6081 I really dont thing being about too afford it is the issue!!

[@AlexSoubannarath]

So does arbitration work for my $5k deposit that they would not refund me since they didn't deliver a product that was described.

[@Aslash304]

Worth a shot. You wouldn’t get $5,000 back in the event of a victory, there would be legal fees. But, why not try it.

[@ellisrochlin2267]

You are a unsecured creditor , 10 cents in the dollar , maybe

[@SamJangeel]

How do I join the group, I own a Fisker ocean one and owe chase money, would love to go with an attorney

[@Aslash304]

The link is in the description

[@tobaccomaestro214]

Is there a law firm looking into CVI?

[@Aslash304]

I am not aware of any specific actions

[@viewingchannel4706]

Him and I should connect. Iwas retaliating against becase I was attempting to document NHTSA customer concerns correctly and they assigned another technician and didn't let me see the customers conercerns again. Geeta retaliated against me.

[@Aslash304]

The contact form is in the description

[@daves9061]

Please ask him what percentage he would take of any settlement they arrived at with Chase.

[@richardtaur]

He will take 30%

[@Aslash304]

30%

[@richardwall7774]

It’s 30% after paying expenses. Which feel like they could be significant, but I’ll give it a go anyway.

[@kickinitcountry4474]

Great video!

[@Aslash304]

Thanks for watching!

[@drgermany001]

Hi Adam 👋 ! Thanks for the video. I did receive this email and will be contacting to have my financial contact from different bank look at.

[@Aslash304]

Best wishes with your resolution!

[@rmorales1029]

Can you ask Steve the next time you talk if he knows of any legal option for those of us who paid cash for our cars.

[@Aslash304]

The Holder rule doesn’t apply. I’ve asked this to many, with no results yet.

[@hlee2546]

Got the answer here , cash or loan still money. Not fair

[@dmcgauley]

With a buyback, how does Hagens Berman get their percentage?

[@Aslash304]

I’ve asked the firm to get back to me with a definitive answer. Great question

[@joshmetzger5031]

What if you paid in full ???

[@Aslash304]

Then the Bankruptcy is likely the only source of any relief.

[@ksmill777]

They never responded back to me.

[@Aslash304]

I believe they will, if they don’t, send me an email

[@ksmill777]

@@Aslash304 Its been over a week, and a half messaged them on their website and left a voice message. I can see if another lawyer and see if they can take the case.

[@Aslash304]

@@ksmill777understandable. They have over 1000 people who have contacted them. That could be the reason for the slow response.

[@Turbomgzt]

UK Fisker Owners selling their Oceans by the bucket load. Some private selling, others part ex. Some trying to return cars to credit companies. It's a mess and many have lost stupid amounts of money sadly. I did my best since August last year raising concerns and flags in Fisker forums. But just got shouted down as a troll, a Fisker hater or accused of being a Tesla employee. None of which i am. Now they are paying the massive price for not listening. It was all too good to be true. A

[@Aslash304]

It’s not cool.

[@shawnrech7865]

I knew the risks of buying this car. I'm not going to attempt to hold a bank accountable. How is this Chase's fault? Just give me the ability to service this vehicle and I'll be satisfied.

[@Aslash304]

I don’t see you being satisfied if that’s the case. Attempts will be made, and you’ll get service, but the amount of financial commitment might have you questioning this choice down the road.

[@rustybumperclassics6342]

So glad i didnt buy one. 😬

[@Aslash304]

Indeed. Bad news

[@evand4773]

Funny how your attitude has changed since you heard you might have a case against Chase too

[@Aslash304]

Please feel free to identify how my attitude has changed.

[@titaniumsandwedge]

Class action lawyers are scummy types that get huge fees compared to plaintiff's paltry payments. If it were not for the Holder provision, Berman would not be involved. Their legal argument is this: Your Ocean is defective and is missing features. Consequently it is worth much less today than the day you bought it from Fisker. The owner is entitled to compensation for this difference, less of course, reasonable fees for Berman. This question will be litigated using an arbitration tool. Where this argument falls apart is that most of the loss in value is due to Fisker going out of business. The true loss due to defective cars will be determined by the arbitrator. I think this will be in the range of $10k. Less of course, reasonable fees for Berman. On top of this, many Ocean owners have gone on social media and puffed that their Ocean is the best vehicle they ever owned. How then, can it be defective? For every lawyer Berman has, Chase has 10X. I can see motion practice, Discovery, and depositions being used by Chase as a means to wear out Berman who has to litigate each case.

[@Aslash304]

The “arbitrator” is one person. The consumer can have a lawyer present, but it’s not a standard trial.

[@titaniumsandwedge]

@@Aslash304 The key to the Chase agreement is eliminating class action lawsuits. Berman must fight each battle with the arbitrator. I do believe the parties have rights to motion practice, Discovery, and depositions.

[@anthonyku2126]

Getting some losses back rather than losing it all would be nice 🥲

[@Aslash304]

Agree

[@ellisrochlin2267]

Berman Life raft for private fisker owners Chase chase🦍🦾 if no win 😢 no fee😅 could be a year or two if this happens. JP Morgan , chase maybe waiting for a ( if what's been told by berman ) a legal knock at their door , how loud that knock will be for chase to answer , who knows .

[@Aslash304]

Thanks for your comment